PPACA’s ‘Shared Responsibility’ – Time to Revisit FTE Worksheet
Even though the employer shared responsibility provisions of the Patient Protection and Affordable Care Act (PPACA) were delayed and will not take effect until January 1, 2015, employers should have prepared for their compliance strategies in 2013. However, if you were a procrastinator now is the time to review. Business owners and payroll personnel will want […]
2014 – Key Health Reform Provisions taking effect this year
• Health Benefit Exchanges – state exchanges move from enrollment to covered phase • Individual Mandate – requires each person to have minimum essential coverage • Essential Health Benefits – requires new plans to cover 10 essential health benefits • No Pre-Existing Conditions – prevents plans from limiting benefits on pre-existing conditions • Clinical Trials […]
2014 IRS Limits – FICA, FSA, HSA, etc…
Maximum Taxable Earnings The following table provides a list of key wage & contribution based benefit IRS limits. FICA Taxable Wage Base (2014 / 2013) Maximum Taxable Earnings – $117,000 / $113,700 Employer Tax Rate – 6.2% / 6.2% Employee Tax Rate – 6.2% / 6.2% Flexible Spending Accounts Health FSA Maximum Salary Reduction […]
The Relief Keeps On Coming!
Health Care Reform Updates – Hear are a few of the changes announced in the last weeks starting with Transition Policy. Transitional Policy provides the Option to Keep Existing Coverage in 2014 – State agencies responsible are encouraged (but not required) to adopt the transitional policy. If the state allows, health insurers have the option […]